Lloyds said the London average multiple of 10.2 disguises significant variations between boroughs in the capital.

Andy Mason, Lloyds Bank mortgage products director, said: "City living suits the lifestyles of many people looking for shorter commutes with much of what they need on their doorstep, but buying a city property is the least affordable it's been for a decade."

He said there is also a "clear North-South divide", with the least affordable cities list dominated by the southern England.

Here are the top 20 most affordable cities, according to Lloyds Bank, with the average house price-to-earnings ratio:

1. Stirling, Scotland, 4

2. Londonderry, Northern Ireland, 4.1

3. Bradford, Yorkshire and the Humber, 4.5

4. Lancaster, North West, 4.8

5. Durham, North East, 5

=6. Belfast, Northern Ireland, 5.1

=6. Sunderland, North East, 5.1

=6. Lisburn, Northern Ireland, 5.1

=9. Dundee, Scotland, 5.4

=9. Swansea, Wales, 5.4

=9. Perth, Scotland, 5.4

=12. Salford, North West, 5.5

=12. Hereford, West Midlands, 5.5

=12. Liverpool, North West, 5.5

=12. Carlisle, North West, 5.5

=12. Glasgow, Scotland, 5.5

=12. Hull, Yorkshire and the Humber, 5.5

=18. Newcastle-upon-Tyne, North East, 5.7

=18. Preston, North West, 5.7

20. Inverness, Scotland, 5.8

And here are the 20 least affordable UK cities according to Lloyds Bank, with the house price-to-earnings multiple:

1. Oxford, South East, 11.5

2. Cambridge, East Anglia, 10.5

=3. London, 10.2

=3. Brighton and Hove, South East, 10.2

5. Bath, South West, 10.1

6. Winchester, South East, 10

=7. Truro, South West, 9.3

=7. Exeter, South West, 9.3

=9. Southampton, South East, 8.9

=9. Canterbury, South East, 8.9

=11. Bristol, South West, 8.8

=11. Salisbury, South West, 8.8

=13. St Albans, South East, 8.7

=13. Chichester, South East, 8.7

15. Norwich, East Anglia, 8.3

16. Leicester, East Midlands, 8.1

17. York, Yorkshire and the Humber, 8

18. Gloucester, South West, 7.7

19. Portsmouth, South East, 7.5

20. Chelmsford, South East, 7.3

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